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CGG: CGG, TGS and BGP Sign Agreement with Staatsolie for Multi-Client Programs Offshore Suriname

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CGG, TGS and BGP Sign Agreement with Staatsolie for Multi-Client Programs Offshore Suriname

Paris, France – October 20, 2021

CGG, a global geoscience technology leader, in a consortium with TGS and BGP, today announced the signature of a multi-client agreement with Staatsolie, the state-owned company leading the development of the energy industry in the Republic of Suriname. The agreement allows the consortium to acquire, promote and license multi-client seismic programs, including new 3D acquisition and legacy data reprocessing, in the shallow water acreage offshore Suriname.

Suriname’s shallow offshore acreage includes three blocks recently awarded, and current open acreage slated to be offered in a competitive bid round for 2023. The new seismic data from the consortium’s multi-client programs will be instrumental in accurately delineating the prospectivity and potential of this underexplored area and is on trend with the recent material discoveries announced on the prolific block 58.

Plans are in place to start acquiring the new 3D seismic data in the shallow offshore area from Q4 2021 with first products being made available during H1 2022.

Sophie Zurquiyah, CEO, CGG, said: “CGG brings its multi-client expertise and high-end imaging technology to this major new program that marks our return to the Guyana-Suriname basin after our successful campaign in the Stabroek block. The resulting exceptional data will bring new insight and potentially extend the trend of recent significant discoveries to the shallow waters of Suriname.”

Kristian Johansen, CEO at TGS, commented: “We are pleased to announce entry to Suriname to continue successful evaluation of the region’s potential. With this exciting multi-client agreement, the consortium will play a key part in encouraging and enhancing future exploration in Suriname, ultimately helping our customers de-risk their investment opportunities.”

Luo Junchao, President of BGP Offshore, commented, “We are excited to be part of this innovative and pioneering consortium with TGS and CGG providing the industry with a world class ‘drill ready’ dataset. BGP Offshore will deploy its state-of-the-art 3D vessel BGP Prospector on phase 1 of this project.”

About CGG

CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,700 people worldwide, CGG provides a comprehensive range of data, products, services and solutions that support our clients to more efficiently and responsibly solve complex natural resource, environmental and infrastructure challenges. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).

Contacts

Group Communications & Investor Relations
Christophe Barnini
Tel: + 33 1 64 47 38 11
E-Mail: christophe.barnini@cgg.com

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